Happy Tuesday, N2K reader!

I’ve decided to change the theme of this week’s world-famous news haiku competition™ to the Venezuela sitch, because I can pivot™ with the best of them, baby. And I believe that you, yes, you, dear reader! — can craft an incredible haiku on the subject. Send me your entry — to our spiffy new email address, haiku at cheddar dot com — by noon ET Thursday for consideration by your Cheddar peers!

—Matt Davis, Need2Know Chedditor

News You Need2Know

• What’s the plan for Venezuela’s oil?

• Inside Zohran Mamdani’s NYC transition

• That new Avatar movie made $40 million this weeken …

• What’s big at the Consumer Electronics Show in Veg …

• The Deaf cafe that takes sign language seriously

• Poll of the day: War profiteer or nah?

• Poll results: You’re not sold on this shoeless thi …

What’s the stock market up to, eh?

$SPX ( ▼ 0.09% ) $DJI ( ▲ 0.69% ) $NDX ( ▼ 0.47% )

Companies mentioned in today’s newsletter

$CVX ( ▲ 2.66% )  $VLO ( ▲ 2.42% )  $SLB ( ▲ 4.79% )  $HAL ( ▲ 5.89% )  $PSX ( ▲ 3.78% )  $MPC ( ▲ 3.21% )  $CVX ( ▲ 2.66% )  $COP ( ▲ 4.99% )  $JPM ( ▲ 1.07% )  $RJF ( ▲ 1.18% )  $XOM ( ▲ 3.44% )  $DIS ( ▲ 1.59% )  

What’s the plan for Venezuela’s oil?

With Nicolás Maduro ousted from power, the future of Venezuela’s vast oil reserves is back in the spotlight. Known for holding about 17% of the world’s crude, the country has an oil industry that’s been plagued by decades of corruption, mismanagement, and sanctions — until now, when it will doubtless be plagued with totally different things.

Still, a change might now present a golden opportunity for investors, even if the challenges remain daunting. As Helima “No Relation to Lara” Croft of RBC Capital Markets told the Financial Times, “Snatching and grabbing Maduro may have been the easy part. The harder challenge is how do you build this country back.”

For companies like Chevron, which has deep operational knowledge and a long-standing presence in Venezuela, the path forward may be clearer. “They have always got that plan on the shelf,” a former executive told the paper. Which may explain why my fancy new Chevron $CVX ( ▲ 2.66% ) shares were up 5% yesterday.

A bunch of other Venezuela-related stocks ticked higher yesterday:

Don’t forget that, as Thomas Pynchon once wrote, “the real business of war is buying and selling.” And folks, it’s time to buy the war! #NotFinancialAdvice

But as Luisa Palacios from Columbia University pointed out, “Assurances on contracts are critical.” Investors still remember being burned by past expropriations, and the crumbling infrastructure, coupled with safety concerns, won’t make rebuilding quick or cheap. For now, Venezuela’s oil plan hinges on balancing opportunity with the shadow of past risks. I’d like to believe it’s possible, but I’d also like to believe in Santa Claus. So.

Inside Zohran Mamdani’s NYC transition

New York mayor Zohran Mamdani placed affordability "at the forefront of his campaign," a message that "really resonated with voters," said Melissa “Pump Up the Jam” Pumphrey, chief economist at the New York City Economic Development Corporation. Mamdani inherits an economy that Pumphrey describes as "nuanced," with "real bright spots right alongside genuine challenges."

The most defining of those challenges is affordability. While costs are rising for all New Yorkers, the burden is disproportionately felt by middle-income households. Pumphrey highlighted this shift, saying "it's the rising unaffordability pressures on the middle income family that's something that's new." Specific costs are soaring, with childcare, for example, up 43% in five years. This pressure threatens the city's ability to retain middle-income families, particularly those with young children. I have no idea what she means because I already left New York city with my wife and young child for affordability reasons in September. The landlord wanted $5,000 a month for a 400-square-foot apartment. Like, forget it, dude. Even if St. Ambreous was right across the street.

The EDC is already working with Mamdani’s transition team on its affordability agenda, which includes housing, public grocery stores, and workforce development. Pumphrey pumped up the agency’s commitment, saying “EDC stands ready and willing to support the next administration's efforts." While challenges are significant, Mamdani's administration also benefits from the city's strong labor force and a resilient office market where, in terms of net demand, "New York City is number one in the country,” she said.

Song of the Day: Ravyn Lenae, ‘Bicycle Race’

Chicago alt-R&B-er Ravyn Lenae did a clever thing and covered a Queen song. It’s excellent.

That new Avatar movie made $40 million this weekend

James Cameron’s latest epic, “Avatar: Fire and Ash,” continues to dominate the box office as it kicked off the new year with another $40 million over the weekend. Playing in 3,825 North American theaters, the third installment of the Avatar saga has now earned $306 million domestically and an impressive $1.08 billion globally after just 18 days in theaters. While its journey to the billion-dollar club took slightly longer than its predecessors, “Fire and Ash” is well on its way to potentially crossing the coveted $2 billion milestone.

January is typically a quieter time at the movies, but those big blue folks faced some competition from holiday leftovers. Disney’s “Zootopia 2” held strong in second place, grossing $19 million over the weekend and making history as Walt Disney Animation’s $DIS ( ▲ 1.59% ) highest-grossing film ever with $1.58 billion globally. The psychological thriller “The Housemaid” also made waves, earning $15.2 million domestically and pushing its worldwide total to an impressive $133 million.

With 2026 box office revenues so far pacing 26.5% ahead of this time last year, Hollywood is optimistic for a blockbuster comeback, bolstered by an exciting slate of upcoming films.

Quote of the Day

What’s big at the Consumer Electronics Show in Vegas?

CES 2026 is underway with AI and robotics continuing to dominate the consumer tech landscape. This year, the focus is on practical, integrated solutions for everyday life, making advanced technology accessible to the whole family — including our pets.

A major buzz surrounds the rise of miniature humanoids, spearheaded by startups like Zeroth with their latest companion robot, the M1, designed for safety and functionality in any household. The digital health space is also rapidly evolving. Y-Brush’s newest dental product, Halo, not only cleans your mouth in a mere 20 seconds but also incorporates AI sensors to scan chemical biomarkers in your breath, offering early detection for over 300 health conditions. AI-Tails introduced a smart feeding station that monitors cats for signs of disease or pain by analyzing their facial expressions and vital patterns. Meow! Inside the home, the R2 modular robot from Robotin showcases a new level of intelligent cleaning, using AI to detect and deep-clean carpets until stains are completely gone and ready to be replaced with new stains. Outside, Birdfy is building a community of tech-savvy bird watchers with a system that uses 4K and 6K cameras and proprietary AI to identify over 6,000 species, strengthening the connection between nature and technology, bypassing humans entirely.

My father-in-law is at the exhibition this week doing his best to stay out of trouble. I’ll let you know how that goes.

Should you check your 401(k) today?

👍️ 

Yes, markets were up a lot yesterday.

The Deaf cafe that takes sign language seriously

The Woodstock Cafe in Portland, Oregon, isn’t your ordinary coffee shop, it’s a hub where the Deaf, hard of hearing, and signing communities gather to connect, communicate, and celebrate culture. American Sign Language is the primary mode of communication, making the space uniquely inclusive for Deaf patrons. For those who don’t know ASL, a microphone helps translate speech onto a screen, ensuring accessibility for all visitors.

The cafe is owned by a nonprofit dedicated to uplifting Deaf culture through the arts and technology. Co-founder Andre Gray has long envisioned a space that breaks down barriers for Deaf individuals. “We’re proud of who we are,” says Gray.

Weekly ASL meetups and movie nights bring in a diverse crowd, ranging from Deaf patrons to ASL learners. Among those is Amy Wachspress, who started learning sign language as her hearing diminished. “I never expected a cafe like this to exist,” she said. “It’s a warm, welcoming place that truly feels inclusive.”

For Deaf employees like Julia Balam, Woodstock isn’t just a job but a supportive space where traditional workplace struggles are minimized. “It’s rare to find employers who get it,” Balam told the Associated Press. “Here, they do.”

While current plans to expand into a larger Deaf Equity Center remain on hold due to funding challenges, Gray remains hopeful: “The Deaf community deserves spaces where they can be themselves.”

Poll of the day: War profiteer or nah?

Poll results: You’re not sold on this shoeless thing

We asked: “Shoes or no shoes at work?”

You answered:

⬜️⬜️⬜️⬜️⬜️⬜️ Finally, a chance to show off my espadrilles! They're not shoes. But they're not socks, either. (25)

🟩🟩🟩🟩🟩🟩 I would rather eat my shoes than work in a shoeless office. (190)

🟨⬜️⬜️⬜️⬜️⬜️ The dogs are aching to run wild! (54)

🟨🟨⬜️⬜️⬜️⬜️ Wait, are you offering me a job? Cuz I'll take it, shoes or no shoes! (77)

346 Votes via @beehiiv polls

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